Chapter 34 - Globalization Flashcards
Dumping
Selling internationally traded goods below cost of production
Free trade agreement
Economic agreement between countries to allow fre trade member
Import quotes
Numerical limits on the quantity of products that can be imported
No tariff barriers
Ways nation can draw up rules regulations inspections and paperwork to make it more costly or Difficult to import products
Which is the longest destination for Canadian FDI?
USA
How can we see the effect of globalization in terms of agriculture trade?
Politics, finance, exports, standardization of practices, FDI
FDI
Foreign direct investment
Is money from one nation being invested in another nation often done by corporations.
Why do we need harmonization of standards.?
It facilitates trade across borders by giving buyers more choice with less uncertainty and improves market access for suppliers.
Harmonization a standard should have what effect on trade?
Positive effect
What are the impacts of globalization?
Cost savings or global, competition is global, technology is boarder less, nations are attempting to protect the industries
How do countries protect firms?
Using import quotas, tariffs, nontariff barriers.
Common market
Economic agreement between countries to allow free trade in goods, services, labour, and financial capital
